Sapient Capital LLC Invests $4.78 Million in Argan, Inc. (NYSE:AGX)

Sapient Capital LLC bought a new stake in shares of Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 47,158 shares of the construction company’s stock, valued at approximately $4,783,000. Sapient Capital LLC owned 0.35% of Argan at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AGX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Argan in the second quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Argan during the 3rd quarter worth approximately $43,000. Point72 DIFC Ltd bought a new position in shares of Argan during the 2nd quarter valued at approximately $70,000. EntryPoint Capital LLC purchased a new position in shares of Argan in the first quarter valued at $95,000. Finally, Quest Partners LLC increased its position in Argan by 3,321.4% in the second quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock worth $140,000 after purchasing an additional 1,860 shares during the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

Argan Stock Down 0.3 %

Argan stock opened at $114.77 on Monday. Argan, Inc. has a 52-week low of $39.74 and a 52-week high of $116.56. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 40.98 and a beta of 0.53. The firm’s fifty day moving average is $86.43 and its 200 day moving average is $74.40.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. Argan had a net margin of 6.11% and a return on equity of 14.80%. The firm had revenue of $227.02 million during the quarter, compared to the consensus estimate of $191.05 million. The company’s revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $1.50 annualized dividend and a dividend yield of 1.31%. This is an increase from Argan’s previous quarterly dividend of $0.30. Argan’s payout ratio is currently 53.38%.

Insider Buying and Selling at Argan

In other news, Director Peter W. Getsinger sold 1,405 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $78.36, for a total value of $110,095.80. Following the completion of the sale, the director now owns 13,000 shares in the company, valued at approximately $1,018,680. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Argan news, Director James W. Quinn sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total value of $896,800.00. Following the transaction, the director now owns 70,422 shares of the company’s stock, valued at $6,315,444.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 1,405 shares of Argan stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $78.36, for a total value of $110,095.80. Following the sale, the director now owns 13,000 shares of the company’s stock, valued at approximately $1,018,680. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,539 shares of company stock worth $4,820,475 over the last quarter. Insiders own 11.85% of the company’s stock.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.